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Registration number: 07913295

CellsUnited Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 January 2018

 

CellsUnited Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 6

 

CellsUnited Limited

Company Information

Directors

Renata Crome

Andrew Smith

Timothy Mott

Registered office

38 Hampton Road
Twickenham
TW2 5QB

 

CellsUnited Limited

(Registration number: 07913295)
Abridged Balance Sheet as at 30 January 2018

Note

2018
£

2017
£

Fixed assets

 

Intangible assets

3

6,167

7,564

Current assets

 

Debtors

15,931

32,422

Cash at bank and in hand

 

4,524

58,787

 

20,455

91,209

Creditors: Amounts falling due within one year

(11,820)

(47,084)

Net current assets

 

8,635

44,125

Total assets less current liabilities

 

14,802

51,689

Accruals and deferred income

 

(2,400)

(2,700)

Net assets

 

12,402

48,989

Capital and reserves

 

Called up share capital

216,617

216,617

Share premium reserve

283,546

283,546

Profit and loss account

(487,761)

(451,174)

Total equity

 

12,402

48,989

For the financial year ending 30 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

CellsUnited Limited

(Registration number: 07913295)
Abridged Balance Sheet as at 30 January 2018

Approved and authorised by the Board on 29 October 2018 and signed on its behalf by:
 

.........................................

Andrew Smith

Director

 

CellsUnited Limited

Notes to the Abridged Financial Statements for the Year Ended 30 January 2018

1

General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
38 Hampton Road
Twickenham
TW2 5QB
England

These financial statements were authorised for issue by the Board on 29 October 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

CellsUnited Limited

Notes to the Abridged Financial Statements for the Year Ended 30 January 2018

Asset class

Amortisation method and rate

Trademarks

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

CellsUnited Limited

Notes to the Abridged Financial Statements for the Year Ended 30 January 2018

3

Intangible assets

Total
£

Cost or valuation

At 31 January 2017

13,967

At 30 January 2018

13,967

Amortisation

At 31 January 2017

6,403

Amortisation charge

1,397

At 30 January 2018

7,800

Carrying amount

At 30 January 2018

6,167

At 30 January 2017

7,564

The aggregate amount of research and development expenditure recognised as an expense during the period is £ 5,114 (2017 - £Nil).
 

4

Tangible assets

Total
£

Cost or valuation

At 31 January 2017

390

At 30 January 2018

390

Depreciation

At 31 January 2017

390

At 30 January 2018

390

Carrying amount

At 30 January 2018

-